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Item $7$

Time Remaining $4$ hours $18$ minutes $55$ seconds

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MC Qu$.04$ A discount on bonds should be$...$

A discount on bonds should be reported in the balance sheet:

Multiple Choice

As a deferred credit.

As a reduction in bond issue costs.

As a reduction of the face amount of the bond.

At the present value of the future addition to bond interest expense due to the discount.